Juventus has announced profits of Eur11.3 million for the first half of the 2012-13 financial year, but the Serie A champion is still expecting to post a loss for the full 12-month period, reports SportBusiness. The Turin giant's figures for the six months ending December 31, 2012 represent a significant improvement on its results year-on-year, when it lost Eur34.6 million.
The club's return to the UEFA Champions League this season, and the associated riches that brings, has been a key factor in this turnaround. Juventus was able to report a 74.9% rise in revenues to Eur149 million for the six-month period, with Eur42.8 million coming through its participation in the Champions League.
The club stated that it still expects to post a net loss for the 2012-13 year, but said this is expected to be a "significant improvement" on the previous year's figures. Juventus blamed this situation on the cost of regenerating its playing squad.
Juventus in September recorded a substantial decrease in its year-on-year financial losses and a boost in revenues as it benefitted from its first season in its new stadium in 2011-12.
The club remained undefeated as it clinched the Serie A title last season and its financial results for the year ending June 30, 2012 disclosed losses of Eur48.7 million versus the 2010-11 figures of Eur95.4 million.
Revenues rose by 24.2% to Eur213.8 million as ticket sales in the club's new 41,000-seat stadium increased by Eur20.3 million, while sponsorship and advertising also showed a Eur10.2 million increase.